Wednesday, July 25, 2012

Completed challenges and progress on Money Making Challenge

I am excited to have completed my Sell 1,000 Things Challenge. It was fun at the start, finding things to sell and getting rid of my clutter. Then I got caught up in other things. Towards the end of it, I began to feel like it was holding me back from other things I wanted to do.

I was going to end it on June 30th whether I had completed it or not. I was close, but com June 30 I had not finished it. My plan was to donate everything Monday July 2nd, but on the evening of the 30th I slipped and sprained my ankle.

This meant I couldn't do anything so my stuff sat there. Amazingly, at the end of that week I ended up selling a bunch of it from pictures I had posted on Facebook and managed to finish my sell 1,000 things challenge properly.

So now that is over and done with properly, I am focusing my efforts on my money making challenge. This is there one where you find money, then double it repeatedly until you have $1,000,000. I am sitting at over $400 and am waiting on a few more payments to come through which will push me up to the next step.

This has been a lot of fun. I started with finding money on the ground; used it to buy some items and resell them. I did that a couple of times over then worked on an eBook which I have now launched. I paid someone else to do the cover for it, and the covers of a couple of other eBooks I have planned.

I try not to think too far ahead, and instead just focus on each step as it comes. I am sitting on step 15, so am doing well so far, but I expect it will slow down from here on in, as the amounts I need to double are much larger.

One of the things I would like to do throughout the challenge and hopefully on each step is to do at least one thing that will be a more long term thing. By this I mean instead of buying stuff to resell, the Ebook I just launched provides an income every time I sell one, and it can go on for years. With reselling, I can only make money from it once.

I want to set up different income streams through this challenge, so the money will continue to double, even after I have reached the next step. Ebooks are just one option, but there will be more things I do later on.

3 comments
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OMG, your energy and desire to make your million are amazing! Ok, I do have an idea (something that I do myself), it generates that passive income (passive - means you don't have to do something once and then it keeps creating money, like when you write a book and it keeps selling without you doing anything) and it can be done on your blog. Let me know if you're interested and I'll shoot you an email;-)

lol, thanks Maria. Many people are on the same journey. I have been fortunate in mine, especially with passive income - I am already a published author both through a mainstream publisher and my own eBooks, have had rental property, shares that pay dividends etc. Funny you list being an author as passive, because publishing houses expect a lot from you to market it etc. Then there is usually public speaking etc. So it requires a lot of work before it becomes passive.

Oh, congratulations! It looks like you're on your way to hitting your million by 30! Very encouraging! I should definitely check out your book! As for the passive income - you're right, it's not actually passive and definitely requires work to be done;-) Keep up all the amazing work!;-)